India, Dec. 12 -- As the IndiGo flight status, or lack thereof, unravelled at India's airports and share price went into tailspin, the civil aviation minister called for airlines in the world's fastest growing aviation market.

That's a wonderful idea. After all, IndiGo-with its outsized market share of 65%-brought down India's aviation industry at large in early December. The affected assengers took to social media to vent their anger and demandedthat more airlines take to the skies.

That's easier said than done, for India is a graveyard of sorts for airlines.

More than 20 airlines have shut down in India since 1994 when privatisation of India's aviation sector began. Several of those were in the last 10 years alone, including major pl...